How Do I Apply For Buyback with HDFC Securities?

Steps to Apply Buyback with HDFC Securities

How do I Place a Buyback Bid with HDFC Securities

Easily submit a bid for a share buyback using the following methods.

Buyback via mPowered App

Use the mPowered platform to place a buyback order instantaneously. Follow the steps mentioned below.

Step 1:.Download the mPowered app offered by HDFC Securities.

Step 2: Log into your account.

Step 3: Go to the dashboard.

Step 4: Move on to the Equity section.

Step 5: Click on Buy Back.

Buyback with Call ‘N’ Trade: 

Follow these steps to place your buyback order through a phone call.

Step 1: Call 33553366 (local code prefixed)

Step 2: Reach out to the centralized dealing desk.

Step 3: Mention how many shares you want to sell.

Step 4: Confirm your order.

Types of Buyback orders

Customers can change their buyback orders, except for takeovers, which cannot be changed or cancelled. There are two categories of modifications that are permitted:

Lower Modification: In this instance, any additional shares subject to repurchase will be held until settlement.

Upper Modification: In this instance, a fresh buyback order for the extra shares must be placed.

Orders can be cancelled by customers. However, they can only cancel the buyback orders before the issue’s expiration date. After the end of the settlement cycle, shares will be debited from their demat account.

Requirements to Apply for Buyback

The stock buyback requirements are as follows.

• If you are a resident Indian or a Hindu Undivided Family (HUF) and have registered with HDFC Securities Ltd for online trading and investment transactions, you can apply for a share buyback.

• If you are a non-resident of India, you will need a Portfolio Investment Scheme for Non-Resident Ordinary (PIS NRO) account and a Portfolio Investment Scheme for Non-Resident External (PIS NRE) account. 

You may bid in the individual category for the stock buyback issue. However, it is possible only if you have received a tender offer letter from the firm or RTA to participate.